Wool Prices Drift Down

WOOL PRICES DRIFT DOWN

New Zealand Wool Services International Limited’s Marketing Executive, Mr Malcolm Ching reports that most types eased again this week for the North Island offering of 6,100 bales; however 90 percent of the selection still sold with most growers meeting the market.

Compared to the sale on 22nd October, the weighted indicator for the main trading currencies firmed by 0.47 percent having minimal impact as restricted demand continues to be the main market driver.

Mr Ching advises;

Fine Crossbred Full Fleece eased 1.5 to 4 percent with shorter types ranging from firm to 4 percent cheaper.

Good colour Coarse Full Fleece came down 3.5 percent with longer shears 1.5 to 4 percent easier.

Shorter Shears fared better as local demand underpins them, with 3 to 4 to 2 to 3 inch wools firm to buyers favour.

Good colour Short Oddments were 3.5 percent easier.

Limited competition with Europe and China principals for the fine crossbred wools and Australasia dominating the coarse wools. Limited support from elsewhere.

Next sale on 5th November comprises approximately 5,400 bales from the South Island.

ENDS

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